Westlake Development Site
1722-1726 Dexter Ave N, Seattle WA
Property Type Multi-family
Price $2,000,000
Status Active
Property Highlights:
- Two contiguous LR3(M) lots. A combined 9,600 square foot site under single ownership, offered together. Assembling two lots of this size on Dexter Ave N isn't something a buyer can do parcel by parcel in the current market.
- Adjacent parcels separately available. The two neighboring properties at 1730 and 1732-1734 Dexter Ave N are under the same ownership and being marketed at the same time. Those lots are also zoned LR3(M) and total 9,600 square feet between them.
- A+ location: east-facing slope above Lake Union, giving upper floors of a new building water and territorial views. Anthropic recently signed an office lease on Dexter Ave, and the site is under a mile north of the South Lake Union employment core, including Amazon, Google and the Fred Hutchinson Cancer Center. Dexter carries a protected bike lane and frequent buses to downtown, South Lake Union and Fremont, with Lake Union Park, the Cheshiahud Loop and the Westlake waterfront directly below.
- Income carries the site. Both houses are occupied and produce $4,600 per month, $55,200 per year, in scheduled rent, with tenants paying their own utilities.
- Both tenancies are month to month, so a buyer controls delivery timing without waiting out a lease or negotiating a buyout.
- Seller is open to developer terms: an extended feasibility period and a closing timed to permitting.
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